Dorchester Minerals, L.P. Announces the Retirement of Mr. William Casey McManemin from the Board of Managers; Appointments of Mr. Robert C. Vaughn as Interim Chairman and Mr. Albert G. Nance III to the Board of Managers
Rhea-AI Summary
Dorchester Minerals, L.P. (NASDAQ: DMLP) announced that William Casey McManemin will retire from the Board of Managers effective December 31, 2025. Mr. McManemin served as CEO for over 19 years, was a Board member and chairman since 2003, and has been involved with the organization for over 37 years. The Board named him Chairman Emeritus (honorary, without compensation or voting rights).
Board member and co-founder Robert C. Vaughn has been named Interim Chairman. In addition, Smith Allen Oil & Gas, Inc. notified the Partnership that Albert G. Nance III will join the Board effective January 1, 2026. Mr. Nance brings over 38 years of oil and gas experience.
Positive
- Chairman Emeritus designation effective December 31, 2025
- Interim chairman named to maintain governance continuity
- New board member appointment effective January 1, 2026
- New director brings over 38 years of industry experience
Negative
- Retiring chairman leaves active leadership role on December 31, 2025
- Chairman Emeritus position carries no voting rights or compensation
- Interim chairman role indicates pending permanent chair appointment
Key Figures
Market Reality Check
Peers on Argus
DMLP was down 1.48% pre-announcement, while close peers were mixed: KRP (-0.86%), VET (-2.28%), MNR (-0.24%) versus VTS (+1.99%) and HPK (+4.82%). This points to stock-specific factors more than a unified sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 06 | Earnings results | Negative | -1.8% | Q3 2025 net income and revenues declined versus Q3 2024 while distribution set. |
| Nov 04 | Governance update | Negative | -1.8% | Announcement of a long-serving manager’s passing and audit committee leadership change. |
| Oct 23 | Distribution declaration | Positive | +1.4% | Third quarter 2025 cash distribution of <b>$0.689883</b> per common unit announced. |
| Sep 02 | Mineral acquisition | Positive | -0.1% | Strategic acquisition of about <b>3,050</b> net royalty acres for <b>915,694</b> units. |
| Aug 07 | Earnings results | Negative | -1.4% | Q2 2025 net income and revenues declined year over year; distribution declared. |
Recent news, whether earnings, distributions, or acquisitions, has most often seen price moves that align directionally with the apparent tone of the announcement.
Over the last few months, Dorchester Minerals has reported softer Q2 and Q3 2025 results versus prior-year periods, alongside continued cash distributions such as the $0.689883 third-quarter payout announced on Oct 23, 2025. The partnership also expanded via a Colorado mineral acquisition of about 3,050 net royalty acres issued for 915,694 units. Governance-related news included the passing of a long-serving audit committee chair. Today’s board transition update follows this series of operational and governance developments.
Market Pulse Summary
This announcement details a planned leadership transition, with a long-serving Chairman retiring at year-end and being named Chairman Emeritus while a co-founder becomes Interim Chairman and a seasoned oil and gas executive joins the Board. In recent months, Dorchester reported Q2 and Q3 2025 results and maintained cash distributions, alongside a Colorado mineral acquisition. Investors may watch future distributions, governance disclosures, and commodity trends as this refreshed board oversees strategy.
Key Terms
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
DALLAS, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announces the retirement of Mr. William Casey McManemin from the Board of Managers of Dorchester Minerals Management GP LLC, the general partner of the Partnership’s general partner (the “Board”), effective December 31, 2025.
Mr. McManemin previously led the Partnership as Chief Executive Officer for over 19 years and has been a member and Chairman of the Board since the Partnership’s inception in 2003. As a co-founder of Dorchester’s predecessors, he has demonstrated steadfast dedication to this organization for over 37 years.
Mr. Bradley Ehrman, Chief Executive Officer, commented “Casey’s contributions to the Partnership cannot be overstated – his vision and leadership have shaped the very foundation of Dorchester Minerals. Beginning in 1988, he had the foresight and perseverance to assemble assets that now form a core part of our mineral and royalty holdings. As a leader, advisor, mentor, and friend he has exemplified the highest standard of fair-dealing, integrity, and respect to everyone fortunate enough to have worked alongside him.”
In recognition of his distinguished service, the Board has named Mr. McManemin Chairman Emeritus, an honorary designation (without compensation or voting rights) that reflects his ongoing commitment to Dorchester’s people and its partners.
Mr. Robert C. Vaughn, a current member of the Board and co-founder of Dorchester Minerals, has assumed the position of Interim Chairman. With significant knowledge of the Partnership’s history, structure and assets, he is well-positioned to lead the transition and provide continuity of board governance. Mr. Vaughn stated, “Casey and I have worked together for over three decades and I have learned a lot from him and value his perspective. His knowledge of our assets and disciplined management style have yielded significant returns for the Partnership. I am excited about Dorchester’s future and honored to be a part of its continuing success.”
Mr. McManemin remarked, “We formed Dorchester with a simple purpose: focus on top-tier assets to generate long-term, tax-efficient cash flow for our partners. Achieving this goal has been deeply rewarding, and I am grateful for the trust and support our partners have shown over the years. Although I am stepping away from my official duties, I remain committed – both personally and financially – to the Partnership and its strategy.”
In connection with Mr. McManemin’s retirement, the Partnership received notification from Smith Allen Oil & Gas, Inc. that it has appointed Mr. Albert G. Nance III to the Board of Managers, effective January 1, 2026. Mr. Nance has not been named to any committee of the Board. Mr. Nance brings over 38 years of oil and gas experience to the Board, having previously served as Vice President of Land at Tri-C Resources, LLC, an independent exploration company. He is currently the Venture Manager of Garg Oil, a mineral partnership with assets in Texas and Oklahoma.
Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, and net profits interests located in 28 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP.
FORWARD-LOOKING STATEMENTS
Portions of this document may constitute "forward-looking statements" as defined by federal law. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Examples of such uncertainties and risk factors include, but are not limited to, changes in the price or demand for oil and natural gas, changes in the operations on or development of the Partnership’s properties, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements) and the Partnership’s financial position, business strategy and other plans and objectives for future operations. These and other factors are set forth in the Partnership's filings with the Securities and Exchange Commission.
| Contact: | Martye Miller | 3838 Oak Lawn Ave., Suite 300 |
| Dallas, Texas 75219-4541 | ||
| (214) 559-0300 |
FAQ
When does William Casey McManemin retire from Dorchester Minerals (DMLP)?
Who is the interim chairman of Dorchester Minerals after McManemin's retirement?
When does Albert G. Nance III join the Dorchester Minerals board (DMLP)?
What role will McManemin hold after retiring from Dorchester Minerals (DMLP)?
How long did McManemin serve as CEO before retiring from Dorchester Minerals?
